Argentina aims to run a 4.5% deficit

Economy Minister Martin Guzman said that a deal with the International Monetary Fund to restructure its $44 bn debt will not come at the price of sweeping budget cuts. “Austeriry is not the way to go he said. According to him, Argentina has to balance the twin goals of avoiding the destabilising effects that too much monetary financing can have on the exchange rate while still having enough expansion to boost the economy. He added that the correct level of deficit for the country is the 4.5% outlined in the 2021 budget.

Source: Buenos Aires Times